ASIC ramps up surveillance and remediation after adviser conflict reportBY KARREN VERGARA | THURSDAY, 25 JAN 2018 12:58PMASIC is ramping up its surveillance and remediation processes to help curb further adviser conflicts of interest within vertically integrated institutions.
Related News |
Editor's Choice
T. Rowe Price appoints local operations chief
T. Rowe Price, the global asset manager with over US$1.3 trillion in assets under management, has appointed a regional operating chief who will relocate to Sydney from the London office.
Vanguard backs current performance test
Vanguard has endorsed the current performance test methodology in a submission to Treasury, championing its effectiveness in eliminating underperforming investment options and improving member outcomes.
Sequoia chair steps down
The chair of Sequoia Financial Group, John Larsen, has resigned from the position and his replacement has been appointed.
Court approves $16m DASS settlement
The Federal Court has approved the settlement reached in the $16 million class action brought against Dixon Advisory & Superannuation Services (DASS) following a two-week delay.
Further Reading
Sponsored by | Where do advisers invest their time?The stage 3 tax cuts have sparked discussions on bracket creep. Implementing a tax-effective investment strategy is crucial now more than ever. |
Sponsored by | Quality and Yield. A Powerful combination.With central bank rates seemingly peaked, investors are not awaiting yield increases. We're bucking the trend with investment rates at decadal highs |
Sponsored by | Why it could be a good time to be a growth contrarianGrowth-style companies are in vogue, but you may need to think outside the box to ensure you don't overpay. |
Products
Featured Profile
Fiona Mann
HEAD OF LISTED EQUITIES AND ESG
BRIGHTER SUPER
BRIGHTER SUPER
Brighter Super head of listed equities and ESG Fiona Mann was shaped by a childhood steeped in military-like discipline and global nomadism. Andrew McKean writes.
ASIC would be better served if it made recommendations to the government along the lines of:
1. Prevent product providers with an AFSL from providing personal advice, only general advice.
2. Regulate providing personal advice on and/or dealing in a financial product to independent Auth Reps only.
In the long term, I would suggest looking into the possibility of (i) combining the AFSL and ACL into one licence, (ii) merging their respective laws into one new statute and (iii) creating a separate authority to administer "Financial Services" (not ASIC).